I am about to close my first deal as an out of state investor in the midwest.
The property is in a D type of area (which concerns me a bit)
Purchase price : $23,000.
Estimated Repair cost : $5000 (no major repairs, already went through inspection).
Financing mode: All cash.
Property is currently tenanted $750/month. I am expecting an 18.85% Cash on cash ROI.
Would you close this deal?
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